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A month of PM Narendra Modi’s visit to the US, Washington said his government was slow in pushing economic reforms other than foreign direct investment (FDI) liberalisation,But it is louded RBI Governor Raghuram Ram Rajan for his “Monetary Stewarship “.
.It also Joined Many critics of the new methodology of calculating gross domestic product, saying India's GDP growth might be overstated. It also joined many critics of new methodology of calculating gross domestic product, saying India’s GDP growth seems to be overstated.However, the US State Department in a report on Wednesday praised the Modi government for liberalising FDI regime and its efforts to improve India’s ranking in the ease of doing business by the World Bank.
The report was titled Investment Climate Statements for 2016 and was released on Tuesday.As the government looks for replacement of Rajan, US State Department said: “
This has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government, it said.
It cited the instance of the government failing to muster sufficient political support on Land Acquisition Bill in the Parliament that ended its chance of passage of the legislation in the near term.